Oklahoma is a hugely popular program. The problem is if they were to join the B10, the conference would need to find a way to monetize that popularity to ensure that Oklahoma pays for itself. Oklahoma would need to bring in approx $25-$50 million per year.
I have the sense that a lot of Oklahoma's popularity is regional, in Oklahoma, Texas, and nearby areas. That makes it a lot harder to monetize Oklahoma's popularity in the North Central or Northeastern areas served by the B10.
Nebraska is contiguous to the B10, and Nebraska has a lot of fans in Iowa, Minnesota, Illinois, and Wisconsin. So even though Nebraska itself is a small state, their inclusion in the B10 was more easily monetized throughout the league. Maryland and Rutgers are contiguous to the B10 in large population states in a large population region that has strategic importance to the B10 and a lot fans of other B10 schools. Our inclusion is more easily monetized.
But Oklahoma is pretty far away from most of the B10. And it is a small state that does not provide enough intrinsic value by itself. So it would be hard for the B10 to monetize Oklahoma's popularity. If Oklahoma were to join the B10 with a school from Texas (such as Texas or A&M), then Oklahoma's popularity in Texas could be monetized along with the Texan school.
But coming in by itself, I think it is hard to justify Oklahoma. The B12 took WVU because they needed a warm body. The ACC took Louisville because they needed a warm body. And those schools were the best warm bodies available and willing to make the move. But the B10 is not in that position, so we don't need to add another school unless it really makes sense.
I have to be more clear on here. My personal position is no expansion. Everything I've said is in a "lets assume expansion is going to happen, who are the best options" kinda way. So, let me restate my last paragraph above, which I should have done in my response to Knight Light as well:
If the B1G is going to expand and one of the big, national brands (Texas, Notre Dame, Florida State, Oklahoma) is available, no strings attached and no special treatment, you'll regret passing on them. If you're not planning further expansion, you may not regret it.
That being said, all this boils down to where do you see the audience getting access to the content in the future? If cord cutting continues to be the trend, then you need to be able to put a product out that people actually want to see, not just a product that happens to be on their channel lineup that they're paying for whether they watch or not. I'm sure there's more data out here, but this is what I could find in about 2 minutes of Googling. Average number of viewers per game in millions (please excuse the formatting, I'm not savvy enough to make it show right):
2013 Viewers 2014 Viewers Average
Ohio State 4.37 4.96 4.665
Florida State 3.01 6.25 4.63
Michigan 5.25 3.78 4.515
Notre Dame 3.91 4.2 4.055
Nebraska 3.24 3.02 3.13
Missouri 2.51 3.71 3.11
Penn State 2.65 2.38 2.515
Oklahoma 2.64 2.37 2.505
Texas 2.24 2.07 2.155
Georgia Tech 1.5 2.22 1.86
North Carolina 2.24 1.25 1.745
Virginia 0.88 1.84 1.36
Maryland 1.15 1.5 1.325
Rutgers 0.92 1.26 1.09
Two years is minimal, but in a cord cutting future, Oklahoma (football) is a lot easier to monetize than UNC, UVA or GT (football). The question becomes is it enough to justify expanding instead of standing pat? Or is Notre Dame still on the table or possibly Florida State? Will those trends hold for Missouri and if they do, would Missouri even consider a move? Does UNC basketball bring enough ratings to offset their lower football ratings? I don't have the answers to any of that.
Basically, this is all a long winded way of saying that if the B1G does decide to expand again, I want and think they need big names. I don't want to see Ohio State vs. Virginia or Georgia Tech, I want to see Ohio State vs. Oklahoma. I want Ohio State vs. Texas. I want Ohio State vs. Florida State. Those games are what will sell BTN subscriptions in the unbundled future.